Arbeitspapier

Household consumption and the housing net worth channel in Ireland

The performance of the Irish economy over the period 2002-2019 varied considerably, with a credit-led boom up to 2007 being followed by a sharp fall in economic activity and house prices in the following five years. This provides a valuable sample for investigating the relevance of the housing net worth channel to consumption developments. The evidence presented here indicates the channel being active during the 2007-2012 downturn with a fall in house prices causing a decline in consumption. It does not have an impact outside that downturn. Consequently, the results add to the international evidence of how an accumulation of household debt and a downturn in house prices has a substantial adverse impact on consumption.

Sprache
Englisch

Erschienen in
Series: ESRI Working Paper ; No. 710

Klassifikation
Wirtschaft
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Macroeconomics: Consumption; Saving; Wealth
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Thema
housing net worth channel
consumption
household debt

Ereignis
Geistige Schöpfung
(wer)
Cronin, David
McQuinn, Kieran
Ereignis
Veröffentlichung
(wer)
The Economic and Social Research Institute (ESRI)
(wo)
Dublin
(wann)
2021

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Cronin, David
  • McQuinn, Kieran
  • The Economic and Social Research Institute (ESRI)

Entstanden

  • 2021

Ähnliche Objekte (12)